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How Much Will GDPR Compliance cost?

Tagged with gdpr, ico, data, free, freeadvice, gdprtemplate, easygdpr, gdprfree,
by Adam Brogden
in Blog

09-Mar-2018 09:18

The headlines and scaremongers will tell you that GDPR will cost you 4% of your turnover or €20M if you don’t do it! This is a serious question for many companies. It’s very difficult to give an accurate cost but there are some parameters that might help you get at least an estimate.

Basics:

GDPR Document packs - £250 - £700
GDPR Consultancy - £75/hour
Development / website update - £500/day [assumes in-house development]
Legal advice - £1500/day
Staff Project Management costs - £300/day [assumes in house staff manage the project]
Staff training - £200/day [cost of training your staff]
Customer Awareness Campaign - £0

As you can see these costs are significant!! For many companies the cost of GDPR implementation is prohibitive.

To help put this in context take a look at the following examples:

Garage – small family run garage, servicing, MOTs, buying/selling used cars.

Total cost for their GDPR preparations:

GDPR Document packs - £250
GDPR Consultancy – 4 hours = £300
Website update - £200 [outsourced site]
Legal advice - £0
Staff Project Management costs - £400
Staff training - £200
Customer Awareness Campaign - £0
Total: £1350

This is an estimate as this boss of this small company managed the project and we can base his cost on his normal charge rate for car repairs.

Software development company – produce management software for hotels.

Total cost for their GDPR preparations:

GDPR Document packs - £500
GDPR Consultancy – 4 hours = £1500
Website update - £2000 [outsourced site]
Legal advice - £2000
Staff Project Management costs - £1000
Staff training - £1000
Customer Awareness Campaign - £500
Total: £8500

This is an estimate as the project is ongoing but it shows how costs escalate as soon as legal advice is need and staff training is required.

Call centre – outbound call centre.

Total cost for their GDPR preparations:

GDPR Document packs - £500
GDPR Consultancy – 20 hours = £15000
Website update - £2000 [in-house site]
Legal advice - £5000
Staff Project Management costs - £1000
Staff training - £2000
Customer Awareness Campaign - £0
Total: £20000+

Again this is an estimate as the project is ongoing and these costs are likely to increase. This company has many data suppliers, lead generators, and product suppliers. This is a high risk area and GDPR an absolute necessity. In this case GDPR is seen as an opportunity rather than a threat.

Don’t forget that this is only the initial cost – there is an ongoing cost to maintain compliance, these costs are significant and unavoidable.

So, what will GDPR cost? Don’t let any tell you that GDPR won’t cost anything. There is a real cost!

Good luck all